Do you have an idea, but you are not sure how interesting it is to the audience or investors? You think how to get money for its implementation? It may be worth considering the opportunities available in Latvia for crowdfunding, which is gaining more and more popularity in the digital age.
Crowdfunding is an alternative form of collective financing, which relies on voluntary contributions from people, bringing together those who need funds to implement some good idea and those who want to support it financially.
Crowdfunding differs from donations in that investors receive in return some kind of tangible or intangible reward (reward). This may be part of the future profit of the funded project, a finished product, or the opportunity to engage in a funded project in some seductive way.
Although society has funded significant projects since ancient times, the concept of crowdfunding is completely new. This model was first used by musical and artistic communities.
A number of sources cite fund raising for an American tour of British rock band Marillion in 1997 as the first successful crowdfunding campaign on the Internet.
In the early 2000s, the emergence of social networks and, at the same time, influential crowdfunding platforms opened up new opportunities in this area. The global successes of leaders in this field – the American platforms Indiegogo (2008), Kickstarter (2009) and others – indicate that this financing model can already be called the tendency of the century. In 2012, the world’s turnover in this sphere amounted to $ 2.7 billion, in 2014 – already 16.2 billion, and in 2015 – $ 34.4 billion. And there is a tendency to increase.